PUBLISHER: The Business Research Company | PRODUCT CODE: 1392421
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392421
“Airport And Marine Port Security Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on airport and marine port security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for airport and marine port security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The airport and marine port security market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Airport and marine port security constitute an ecosystem designed to ensure the safety of air cargos, protect vessels internally and externally, and enforce treaties with other countries. This comprehensive security system aims to safeguard shipping ports and airport facilities from terrorism, illegal activities, and activism.
The primary types of systems within airport and marine port security include surveillance systems, physical access control systems, screening and scanning systems, perimeter intrusion detection systems, network access control and security, and real-time location systems. Surveillance systems encompass electronic devices, hardware, or software capable of collecting, capturing, and recording various types of information such as audio, visual, digital, location, thermal, and biometric data. This technology not only enables faster reactions to events but also contributes to the efficient management of day-to-day operational costs, including security guards, security vehicles, training, fuel, and more. These systems find application in various infrastructures, including airports and marine ports. Services offered in airport and marine port security encompass facility and asset management, system integration, as well as training and consulting.
The airport and marine port security market research report is one of a series of new reports from The Business Research Company that provides airport and marine port security market statistics, including airport and marine port security industry global market size, regional shares, competitors with an airport and marine port security market share, detailed automotive seat market segments, market trends and opportunities, and any further data you may need to thrive in the automotive seat industry. These airport and marine port security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The airport and marine port security market size has grown strongly in recent years. It will grow from $82. 35 billion in 2023 to $88. 67 billion in 2024 at a compound annual growth rate (CAGR) of 7. 7%. The observed growth in the historical period can be attributed to various factors, including a heightened focus on passenger experience, increased air and maritime traffic, the emergence of biometric solutions, the integration of IT and physical security, and a growing emphasis on international trade and cargo security.
The airport and marine port security market size is expected to see strong growth in the next few years. It will grow to $122. 53 billion in 2028 at a compound annual growth rate (CAGR) of 8. 4%. The anticipated growth in the forecast period can be attributed to factors such as a focus on resilience and emergency preparedness, the implementation of smart and integrated security systems, the adoption of biometric and identity verification solutions, a rise in passenger and cargo volumes, and an increasing emphasis on cybersecurity. Key trends expected in the forecast period include the enhancement of threat detection capabilities, the widespread use of biometric authentication and identity verification, the integration of cybersecurity measures, the utilization of IoT for surveillance and monitoring, and the adoption of smart and integrated security systems.
The airport and marine port security market is experiencing growth due to increasing internal and external threats that pose risks to these critical transportation hubs. Internal and external threats encompass attacks originating from within and outside organizations. Security measures in airports and marine ports are essential to safeguard against these threats, ensuring safety within these environments. For instance, the Transported Asset Protection Association (TAPA) reported nearly 6,463 new cargo threats or attacks across 56 countries in Europe and the Middle East in 2020. This rise in threats is anticipated to drive demand for robust airport and marine port security systems during the forecast period.
The escalation of geopolitical tensions is expected to further propel the growth of the airport and marine port security market. Geopolitical tensions often involve conflicts or disputes among nations or regions, leading to increased security threats and safety concerns. Such tensions necessitate heightened security measures at critical transportation hubs, prompting governments to allocate budgets, enforce stricter regulations, and invest in advanced security technologies. For instance, data from the Armed Conflict Location & Event Data Project (ACLED) highlighted a significant increase in reported events of political violence targeting civilians, rising from 33,331 events in 2020 to 37,185 events in 2021. Likewise, civilian fatalities also increased from 35,879 in 2020 to 38,658 in 2021. Consequently, the surge in geopolitical tensions is a driving force behind the expansion of the airport and marine port security market.
Technological advancements represent a prominent trend within the airport and marine port security market. Key companies in this sector are focused on developing innovative technological solutions to bolster their market position and enhance security measures. For instance, in March 2022, the Transportation Security Administration (TSA) in the US launched new facial recognition technology at Los Angeles International Airport (LAX) to verify visitors' identities at select security checkpoints. Equipped with next-generation Credential Authentication Technology (CAT), the system captures a visitor's photo using a camera, compares it with the photo ID, and verifies their identity based on facial features. This technology aims to enhance safety measures while streamlining the visitor experience within the airport environment.
Major companies in the airport and marine port security market are integrating Vessel Traffic Management Information Systems (VTMIS) to fortify their positions within the industry. VTMIS is a comprehensive technology solution utilized in maritime operations to monitor and manage vessel traffic within specific maritime areas, including ports and waterways. For instance, in April 2023, AD Ports Group, a UAE-based trade and logistics company, introduced VTMIS across its operations in the UAE. This system integrates various tools such as radar, CCTV, radios, and meteorological systems to provide real-time information, enhancing communication between vessels and shore. VTMIS supports critical functions like traffic management, collision avoidance, search and rescue operations, and environmental protection measures, ensuring efficient and secure maritime operations.
In another significant development from February 2021, DG Risk Group, an England-based risk and security management company, acquired Protection Vessels International (PVI) for an undisclosed sum. This strategic acquisition aims to bolster the company's expansion in providing maritime security services, especially across West Africa and global regions facing piracy-related security challenges. Protection Vessels International (PVI), a UK-based company, specializes in offering armed maritime security solutions catering to commercial and government agencies. This acquisition enhances DG Risk Group's capabilities to provide unparalleled security solutions in piracy hotspots where heightened security measures are most critical. The incorporation of PVI's expertise and resources fortifies DG Risk Group's portfolio in the maritime security domain, positioning the company as a key player in addressing security concerns within these vital maritime regions.
Major companies operating in the in the airport and marine port security market report are Tyco International Ltd., L-3 Communications Holdings Inc., Honeywell International Inc., HCL Infosystems Limited, Bosch Security Systems Inc., Smiths Detection Group Ltd., Moran Shipping Agencies Inc., Nedap Automatic Vehicle Identification, FLIR Systems Inc., Safran SA, Saab AB, Unisys Corporation, Huawei Technologies Co. Ltd., Siemens AG, Raytheon Technologies Corporation, Motorola Solutions Inc., James Fisher and Sons Plc, Rapiscan Systems, G4S Limited, Securitas AB, ICTS International N. V., Secom Co. Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, Axis Communications AB, OSI Systems Inc., Thales Group, Leidos Holdings Inc., Johnson Controls International plc, Allied Universal
North America was the largest region in the airport and marine port security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport and marine port security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the airport and marine port security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The airport and marine port security market includes revenues earned by entities by providing security systems and solutions for protecting the airports against hazardous items and inspecting the cargo moving through the ports. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.